Positive forecast: Mohd Redza(pic) attributes the expected higher corporate earnings to a low-base effect and contributions from certain sectors.
PETALING JAYA: After a disappointing year for the local stock market, dragged down by lacklustre corporate results, MIDF Research expects earnings to improve by 5% next year compared to the 1% it estimated for this year.
Head of research Mohd Redza Abdul Rahman attributed the expected higher corporate earnings for 2020 to a low-base effect and contribution from sectors such as banking, plantation, telecommunication and oil and gas.
However, he pointed out that the forecast was lower than the consensus forecast of 6.5%.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
